• ELSOFT closed 2 sen or 2.9% higher to RM0.70 last Friday.
• Recent trading activities supported by higher trading volume suggest buying momentum is gaining traction. With the bullish state of key indicator MACD, share price is likely to move higher.
• From here, resistance levels are expected at RM0.730 (R1) and RM0.815 (R2).
• On the downside, support levels are identified at RM0.650 (S1) and RM0.550 (S2).
Source: Rakuten Research - 12 May 2020
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Created by rakutentrade | Aug 23, 2024